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Bangladesh strives to keep on preferential facilities beyond LDC graduation: EDR Sec

Updated on : 07-09-2022

Bangladesh strives to keep on preferential facilities beyond LDC graduation: EDR Sec

Economic Relations Division (ERD) Secretary Sharifa Khan today said Bangladesh has been trying hard to keep enjoying the preferential trade facilities beyond the LDC graduation.

She said the duty-free and quota-free facilities for countries like Bangladesh in the EU and the UK would continue till 2029 while Australia would also extend such facility. "We're trying so that such facilities continue for us beyond LDC graduation," she said.

The ERD secretary was speaking as chief guest at a workshop titled "Effective Engagement of the Media for Sustainable Graduation" held at the NEC-2 conference room in the city's Sher-e-Bangla Nagar.

Organized by Support to Sustainable Graduation Project (SSGP) of the ERD, its project director and additional secretary Farid Aziz chaired the workshop. The workshop was organized for the members of the Development Journalists Forum of Bangladesh (DJFB). 

Noting that the LDC graduation is bringing some challenges as well as opportunities for the country, Sharifa said Bangladesh has to grow its mindset of lending others instead of taking assistance from other countries.

She informed that the ERD has been continuing its efforts to increase trade facilities through nurturing the bilateral relations.

Opining that all concerned stakeholders need to take necessary preparations considering the evolving trade scenarios of the developing countries, the ERD secretary said that the LDC graduation would bring immense potentials if productivity is increased alongside improvement in the business environment.

"We're also preparing necessary action plan in this regard," she added.

ERD joint secretary and component manager of SSGP project Dr Md Rezaul Bashar Siddique made a power-point presentation on "An overview of LDC graduation: Bangladesh perspective" while joint Secretary Anwar Hossain of SSGP also made a power-point presentation on "Measures for Sustainable Graduation". DJFB President Hamid Uz Zaman also spoke.

According to ERD, Bangladesh has been comfortably qualified for graduation for two consecutive triennial reviews of the United Nations Committee for Development Policy (UN-CDP) in 2018 and 2021 and is set to graduate from the LDC category in 2026. The success of continued progress in the social and economic areas contributed to achieving this historic achievement amidst global economic and climate challenges.

Source : DHAKA, Sep 1, 2022 (BSS)

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